Despite the ubiquitous pre-open ramp by USDJPY, equity markets resumed Friday's weakness out of the gate led by the best of the worst. Biotechs are being battered (-13% from highs) and momentum-high-flyers are being monkey-hammered (led by NFLX and TSLA). This is weighing most heavily on Nasdaq for now but the dive in JPY crosses is dragging all stocks lower. Treasuries are rallying and the USD is rising modestly.

Business page header: Wall Street Climbs Higher After Volitile Week. The entire market is in the red right now. Who knows, maybe the late day ramp up will prove the header right. For now, its quite bizarre.

Auntie Janet is going to go down in history as the FED chair who fucked up the party. 'Everything was fine until SHE showed up'. Nice one Ben... didn't think you were going to get away clean, but you pulled it off.

Dont worry today you can sell your puts better....with the market just off the highs, global PMI numbers misssing, Russia up to no good, and Yellen holding back the bubble power...gravity eventual will overcome.